If I open minor''s demat account and I am the guardian, can I apply IPO from both my and minor''s demat account. Minor donot have Pan card so my Pan card will be updated. Pls help.
we can only open a dmat account in minor name but not trading account. means, we cant buy or sell the shares in their account except that we can buy by applying IPOs. so, if you are a flipper and want to make listing gains in minor account, its not possible. Instead we can apply for only very good selected IPOs in minor account and leave any allotted shares in their account for long term like 5-10 years.
In current primary market conditions, only those who are applying in HNI might make decent money considering over subscription figures in retail. Otherwise, I feel its not worthy spending time and money as every good IPO is over subscribing by 10 times at least and there is hardly any allotment. Again to apply in HNI, we should have at least 50 lakhs cash to invest in IPOs and ready to take risk. Recent listings like HUDCO, SChand has shown how risky it is applying even in HNI. Based on all these facts, Im going for Motilal oswal PMS (Portfolio Management Service - 25 Lakhs should be the minimum investment amount) and Sharekhan (only 5 Lakhs minimum investment amount). Let the experts do their job and we can lead our life peacefully without taking any time and tension. Any other good suggestions/comments please. Im vexed up with tracking, applying in multiple accounts,waiting for IPO allotment and finally disappointing due to no allotment 90% of the time. Good days are gone when retail investors use to make decent returns due to these very high over subscription figures and IPO has become big big lottery, I feel.
FYI, Motilal / Sharekhan average returns is above 50% per year. Porinju Veliyath''s Equity Intelligence has given 60% returns in last 1 year as per some reliable info that I have, but minimum Investment amount is 50 Lakhs. And they 1 Lakh upfront fee 2% on 50 Lakhs) and 10 % of the Profit. And I heard that Porinju portfolio is High risk High Return kind of.. so, Im planning to go for Sharekhan or any other small broker PMS first with 3-5 Lakhs Minimum Investment amount and then think seriously of Motilal Oswal or any other broker for whom 25 L is the min investment amount. Anyways, I have to invest at least 1-3 lakhs to apply in retail to improve chance of allotment. I seriously lost interest and hope in applying IPOs with zero allotment in Advanced Enzymes, CDSL, Shankara, Salasar, BSE (got 1 lot) and all other good IPOs except that I got allotment in AU Small Finance and Hudco etc which are oversubscribed by just 2-5 times in retail. Overall, IPO (Primary market) looks like an Oasis in a Desert if we think practically.
Experts/ Seniors, please suggest any good info that you have on PMS asap.
If PAN numbers are same for both the account. As per the allotment policy, both applications will be rejected. I can have separate PAN card for minor. See the text below
A minor cannot apply for PAN card herself directly. Parents, guardians or a representative assessee has to apply on her behalf. The form to use is form 49A (which is the same one that adults also have to use). This has to be submitted along with identity proofs of the father or guardian; they will have to sign the form as well. According to the Booklet on Permanent Account Number (PAN) taken out by the tax department, any of these documents can be submitted as identity proof of the guardian or father: copy of electricity bill or telephone bill; depository account, credit card or bank account statements; ration card; employer certificate; passport or voter identity card; property tax assessment order; driving licence; or rent receipt. You will also have to attach a copy of the minor''s birth certificate and two photographs even though the image will not appear on the PAN card. Further, it will be the signature of the guardian or father that will appear on the PAN card. You can apply online through the National Securities Depository Ltd''s website, or submit the form and the other documents at your nearest PAN centre. The application fee is the same as that of an adult: Rs 107 for dispatch within India and Rs 989 for outside the country. The PAN card will be issued within 15-20 days from the date of application. Once a minor turns 18 years, you can update the PAN with the child''s photograph and signature. Why a minor may need pan PAN can be used as a proof of identity, and in various other instances such as to open a bank savings account in the minor''s name, or a Sukanya Samriddhi Yojana account for your daughter. PAN also comes in handy if the minor is earning. Generally, a minor''s income is clubbed with the parent''s income. But in certain case, it is taxable in her hands, according to section 64 of the income-tax Act. For instance, the income of a "minor child suffering from any disability of the nature specified in section 80U" will be taxed in her hands. Further, income generated by a minor from manual work or skill, specialised knowledge or talent. In such cases, a PAN becomes mandatory. The child will also have to file her income tax return through a representative assessee.
Cochin 21 ruppes retail discount announced. Any one know any broker in Ahmedabad who give brokerage on allotment date in IPO physical application pls help some one give me name Shivdhara financial but no contact number any one have that guys number pls share ..Thanks
125. Eagleye| Link| Bookmark|
July 22, 2017 5:24:45 PM
IPO Guru (6600+ Posts, 21900+ Likes)
I heard Sintex Plastics after demerger from Sintex group will be listing tomorrow. Expected Listing price is Rs. 80 - 120/-. And good buy call is given with target of 160 - 170 by Mrach end. Could you please confirm authenticity of the news ?
121. Chem cho| Link| Bookmark|
July 23, 2017 10:17:53 PM
IPO Guru (2500+ Posts, 2700+ Likes)